GOVERNMENT OF ABIA STATE OF NIGERIA

ISIALA NGWA SOUTH LOCAL

GOVERNMENT
OMOBA

AUDITED FINANCIAL STATEMENTS

REPORT FOR THE YEAR ENDED
DECEMBER 31, 2020

OFFICE OF THE AUDITOR-GENERAL

FOR LOCAL GOVERNMENTS
ABIA STATE

1
ISIALNGWA SOUTH LOCAL GOVERNMENT
OMOBA

2020 AUDIT STATUTORY REPORTS

TABLE OF CONTENTS
S/N DETAILS PAGES
1. i
TABLE OF CONTENTS
2. ii
AUDIT CERTIFICATE
3. iii - iv
DECLARATION 1
4. v - vi
DECLARATION 2
5. vii
ACCOUNTING POLICIES
6. viii -xiv
AUDIT STATUTORY REPORTS
7.
STATEMENT 1
8.
STATEMENT 2
9.
STATEMENT 4
10.
STATEMENT 5
11.
STATEMENT 6

2
Fax: 088-221621 OFFICE OF THE AUDITOR-GENERAL
GSM: 08033923315 FOR LOCAL GOVERNMENTS
09026442662 LOCAL GOVT. AUDIT HEADQUARTERS
Email: logauditabia@gmail.com PRIVATE MAIL BAG 7030
Net: www.logauditabia,ngr.org UMUAHIA, ABIA STATE

LOGAUD/AR.0I/ISS/05 June 21, 2021

AUDIT CERTIFICATE
The general purpose financial statement of Isialangwa South Local
Government for year ended December 31, 2020 have been
examined by me, in accordance with Generally Accepted Accounting
and Auditing Standards. All funds allocated by the State Local
Government Joint Allocation Account Committee (SLJAAC) as at
December 31, 2020 was recognized in the financial statements. I
confirm that the information in the State Local Government Joint Accounts
Allocation Committee (SLGJAAC) records are in accordance with the FAAC
receipts in the financial statements of Isiala Ngwa South Local Government for
the year 2020. Thus I attest the completeness of State Local Government Joint
Accounts Allocation Committee (SLGJAAC) funds as contained in the
financial statements based on the available records.

2. I obtained all the information and explanations required for the

purpose of the audit; and certify the accounts, subject to the
observations made in the Audit Inspection Reports.

3
3. In my opinion, the Financial Statement represents a true and
fair view of the state of affairs and financial position of the Local
Government as at December 31,2020.

EHIEMERE CHIDI C.
Ag. AUDITOR-GENERAL FOR LOCAL GOVTS.
ABIA STATE

ISIALANGWA SOUTHLOCAL GOVERNMENT

OMOBA

DECLARATION 1

REPONSIBILITY FOR THE FINANCIAL STATEMENTS

These financial statements have been prepared by the Treasurer of

Isialangwa South Local Government in accordance with the provisions of
the Finance (control and management) Act 1958 as amended. The financial
Statements comply with generally accepted accounting practices.

2. The Treasurer is responsible for establishing and maintaining a system of

internal controls designed to provide reasonable assurance that the transactions
recorded are within statutory authority, and properly record the use of all public
financial resources by the Local Government. To the best of my knowledge, this
system of internal control has operated adequately throughout the reporting
period.

4
Treasurer:

Signed …………………………………….

Name ……………………………………

Date ………………………………………

3. We accept responsibility for the integrity of these financial statements: the

information they contain and their compliance with the financial (Control and
Management) Act 1958 as amended; International Public Sector Accounting
Standards (IPSASs); and other extant financial regulations.

4. In our opinion, these financial statements fairly reflect the financial position
of the Local Government as at December 31, 2020; and its operations for the
year ended on that date.

Treasurer Chairman

Sign_______________ _________________

Name …………………………. Name………………………..

Date ………………………….. Date ………………………….

5
Fax: 088-221621 OFFICE OF THE AUDITOR-GENERAL
GSM: 07039660560 FOR LOCAL GOVERNMENTS
08187590510 LOCAL GOVT. AUDIT HEADQUARTERS
Email: logauditabia@gmail.com PRIVATE MAIL BAG 7030
Net: www.logauditabia,ngr.org UMUAHIA, ABIA STATE

LOGAUD/AR.0I/ISS/05 June 21, 2021

DECLARATION 2
OPINION OF AUDITOR-GENERAL FOR LOCAL GOVERNMENTS
I confirm that I have examined and audited the financial statements of
Isialangwa South Local Government, on pages…. to …. which have
been prepared under the accounting policies set out on page V to this
report, which covered the following key areas:

RESPONSIBILITY OF TREASURER
2. The Treasurer is responsible for the compilation and supervision of
the accounts of the Local Government, in accordance with the appropriate
section of the Finance (Control and Management) Act 1958, as amended. It
is my responsibility to audit and form an independent opinion on the
financial statements audited.

6
THE SCOPE OF MY AUDIT
3. I have conducted the audit in accordance with the generally accepted
auditing standards. The approach and methodology adopted for the audit
are as stated in New Model Financial Memoranda For Local Governments,
2009; and also in compliance to International Public Sector Auditing and
Accounting Standards; and other extant financial regulatory Authorities.
Audit noted a great level of non-compliance with laid down procedures of
the retirement of payment vouchers as contained in FM 14:4-10. Particular
attention is required on unretired advances, payments contrary to the law,
and wrong application of funds as contained in the Audit Inspection Report.

OPINION

4. I certify that the financial statements present fairly the performance

and financial position of the Local Government, as at December 31, 2020,
in accordance with the appropriate sections of the Audit Act 1956 as
amended.

EHIEMERE CHIDI C.
Ag. AUDITOR-GENERAL FOR LOCAL GOVTS.
ABIA STATE

Dated this 21st Day Of June 2021

7
 STATEMENT OF ACCOUNTING POLICIES

1. BASIS OF PREPARATION / STATEMENT OF COMPLIANCE

The General purpose Financial Statements have been prepared in
line with International Public Sector Accounting Standards IPSAS
cash basis. The cash basis of accounting recognizes transactions
and events only when cash or cash equivalents are received or paid.

2. BASIS OF MEASUREMENT
The General purpose financial statements have been prepared under
historical cost convention.

3. REPORTING CURRENCY
The Financial statements were presented in Nigeria Naira and kobo,
which is the functional currency of the Local Government.

4. ACCOUNTING PERIOD
The accounting year (fiscal year) is January 1, to December 31 in line
with National Treasury Circular Ref: OAGF/CAD/026/V.I/102 of 30th
December 2013. Each accounting year is divided into 12 calendar
months (periods) and are set up as such in the accounting system.

5. COMPARATIVE INFORMATION
The financial statements presented contain last year actual records
for ease of comparison.

6. BUDGETING FORMATION
The Annual Budget was prepared in compliance with IPSAS cash
Basis. All planned cost and incomes were presented in a single
statement to determine the need of the Local Government.

7. GOING CONCERN
The General purpose financial statements have been prepared on a
going concern basis.

8
8. REVENUE
Revenue from exchange and non-exchange transactions were
recognized in the financial statements when the event occurred and
cash received.

9. EXPENSES
All expenses were recognized in the period they were incurred and
payments made.

10. STATEMENT OF CASH FLOW

The statement of cash flow was prepared using direct method in
accordance with the format provided in the General purpose financial
statements.

11. CASH AND CASH EQUIVALENT

Cash and cash equivalent included cash balances on hand, held in
bank accounts demand deposit and other highly liquid investments
with an original maturity of three months or less and are reproved
under current assets in the statement of financial position.

12. UNREMITTED DEDUCTIONS

Unremitted deductions are monies owed to third parties such tax
authorities schemes, Association and Government Agencies. The
monies include Tax PAYE and other deductions at source.

13. TRANSFER TO OTHER GOVERNMENT ENTITIES

Transfer to other Government entities are not exchange items and
were recognized as expenses in the statement of Consolidated
Revenue Fund.

9
 AUDIT REPORT ON THE FINANCIAL STATEMENTS OF
ISIALANGWA SOUTH LOCAL GOVERNMENT
FOR THE YEAR ENDED DECEMBER 31, 2020

The Accounts of Isialangwa South Local Government for the year

ended December 31, 2020, have been examined by me as provided in
Chapter 5 of Abia State Local Government Law No. 2 of 2006, in
accordance with New Model Financial Memoranda For Local Governments,
2009; and also in compliance to International Public Sector Auditing
Standards cash basis; and other extant financial Regulatory Authorities. And
I hereby certify that the accounts were prepared on the basis of
International Public Sector Accounting Standards pertaining to Local
Government systems; subject to observations made in both Audit
Inspection Report thereof, and this report. The audited financial statements
and inspection reports were issued to Abia State House of Assembly, the
State Executive Governor and all concern authorities in accordance with
relevant statutory provisions of the Law.

STATEMENT 1

STATEMENT OF CASH FLOW

FOR THE YEAR ENDED DECEMBER 31, 2020

2. The total net cash in/(out) flows arising from the year’s operating, investing
and financing activities amounted to N22,419,745.30.

3. The current year total net Cash Flows from all Activities in cash and cash
equivalents of ₦22,419,745.30 added to cash and cash equivalents of
₦10,708,244.99 at the beginning; and the amount for Certificate of Deposits,
summed up to N33,127,990.29 being Cash and cash Equivalents at the end.

4. The Cash and Cash Equivalents at the end are in agreement to the
Closing Cash Balances and Certificates of Deposits. Vide Note 26 for details.
10
 STATEMENT 2

STATEMENT OF ASSETS AND LIABILITIES

AS AT DECEMBER 31, 2020

ASSETS
5. The Cash Assets as at December 31, 2020, amounted to N72,128,890.29.
This figure includes Cash and Cash Equivalents of N33,127,990.29 and the
outstanding Receivables of N39,000,900.00.

LIABILITIES
6. The Cash liabilities as at December 31, 2020, amounted to
N200,905,361.44

NET ASSETS/EQUITIES
7. Matching liabilities against the assets results in net assets/equities. As at
December 31, 2020, the accumulated Reserves stood at ₦(128,776,471.15).

STATEMENT 3

STATEMENT OF CONSOLIDATED REVENUE FUND

FOR THE YEAR ENDED DECEMBER 31, 2020

REVENUE
8. Total accrued revenue for the year amounted to ₦1,909,470,171.11. Over
63.70% of this amount, that is, ₦1,216,755,647.97 was realized as statutory
revenue from Federal Accounts Allocation Committee (FAAC). A sum of
₦471,564,524.20 was internally generated. This amount constituted about
24.70% of the total accrued revenue. A sum of N10,206,459.83 represents Value
Added Tax. This amount constituted about 0.54% of the total accrued revenue
and other capital receipts of N200,235,294.12 representing 10.50%. The
remaining 0.56% was Transfer from Consolidated Revenue Fund, which
amounted to ₦10,708,244.99.
11
EXPENDITURE

9. Total expenditure incurred during the year amounted to

₦2,038,246,642.26.This comprises ₦738,441,232.13 for Salary and;
₦42,982,267.66 for Over Head; and N1,256,823,142.47 being Transfer
Payments to Govt. Establishments

ASSETS
10. During the year, the Local Government acquired no non-current assets on
Property, Plant and Equipment.

SURPLUS/ (DEFICIT)
11. Surplus/(Deficit) from Operating Activities for the Year amounted to
₦(128,776,471.15).

STATEMENT 5
STATEMENT OF COMPARISON OF BUDGET AND
ACTUAL AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 2020

BUDGETED REVENUE

12. The Budgeted Revenue of N2,078,236,000.00 exceeded the Actual

Revenue of ₦1,909,470,171.11 by N168,765,828.89.

12
 13. Significant differences between estimated and actual revenue during
the year occurred on the following Heads:

Head/ Details of Revenue Total Approved Actual Revenue Variance

Sub- Estimates
Heads
₦ ₦ ₦
1101 GOVERNMENT
SHARE OF FAAC
110101 Statutory Allocation 1,864,736,000.00 1,216,755,647.97 647,980,352.03
471,564,524.20 (471,564,524.20)
1201 TAX REVENUE
120101 Personal Taxes 4,500,000.00 779,500.00 720,500.00

1202 NON-TAX REVENUE

120201 Licences 1,675,000.00 663,380.28 1,011,619.72
120204 Fees 2,325,000.00 8,086,579.55 (5,761,579.55)
120207 Earnings 1,100,000.00 245,000.00 855,000.00
120208 Rent on Government
Building 1,175,000.00 -- 1,175,000.00
120211 Investment Income 1,725,000.00 432,000.00 1,293,000.00

1401 TRANSFERS 201,000,000.00 200,235,294.12 764,705.88

140101 Transfer from - (10,708,244.99)
Consolidated Revenue
10,708,244.99
Fund

BUDGETED EXPENDITURE

14. The total approved expenditure estimates for the year summed up to
₦2,786,414,000.00. Whereas, the total actual expenditure amounted to
₦2,038,246,642.26. The estimated expenditure exceeded the actual Expenditure
by ₦748,167,357.74.

13
15. Significant differences between estimated and actual expenditure
during the year occurred on the following Heads:
Head/ Details of Total Approved Actual
Sub- Expenditure Estimates Expenditure Variance
Heads
₦ ₦ ₦
2101 SALARY
210101 Salaries And Wages 1,212,080,662.00 738,441,232.13 473,639,429.87

2202 OVERHEAD COST

220201 Travel & Transport 8,465,459.00 2,935,000.00 5,530,459.00

220203 Materials & Supplies 4,850,000.00 2,124,900.00 2,725,100.00

220204 Maintenance 6,425,856.00 6,332,800.00 93,056.00

Services
220205 Training 2,300,000.00 2,903,550.00 (603,550.00)

220206 Other Services 47,643,292.00 -- 47,643,292.00

220207 Consulting & Prof. 3,700,000.00 413,500.00 3,286,500.00

Services
220208 Fuel & Lubricants 1,410,238.00 50,000.00 1,360,238.00
220209 Financial Charges 3,912,462.00 -- 3,912,462.00
220210 Miscellaneous expenses 97,813,478.00 28,222,517.66 69,590,960.34

2204 Grants and

Contributions
220401 Transfer Payments to 1,260,000,000.00 1,256,823,142.47 3,176,857.53
Govt. Establishments

BUDGETED ASSETS
16. During the year under review, there were no Budgeted Assets.

BUDGETED LIABILITIES/EQUITIES
17. During the year under review, there were no budgeted liabilities.

14
 STATEMENT 6

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED DECEMBER 31, 2020

USES

18. Generally, notes to the accounts are made to provide detail

explanatory financial, economic and social information relating to the data
computed, compiled, collated and generated for the purposes of presenting
meaningful financial information as recorded in Statements 1 - 5 to this
reports.

ADOPTION

19. In preparing and presenting the financial statements, strict adherence to

the prescriptions of International Public Sector Accounting Standards (IPSASs),
was employed. However, notes to the accounts, employed in this reports were
those related to Third Tier Governments of the Federation, in general; and
peculiar to Abia State Local Government systems, in particular.

WORKING CAPITAL

20. The working capital at the end of the financial year stood at
₦(128,776,471.15). This is in agreement with total Net Assets/Equities as per
Statement 1 (Statement of Financial Position), and the Net Surplus/ (Deficit) for
the Period, as per Statement 2 (Statement of Financial Performance).

15
 GENERAL
21. The preceding comments and certain other matters, which may affect
the accuracy of the accounts, are under correspondence.

EHIEMERE CHIDI C.
AG. AUDITOR-GENERAL FOR LOCAL GOVTS.
ABIA STATE

Dated this 21st Day Of June 2021

16
 ISIALANGWA SOUTH LOCAL GOVERNMENT
OMOBA

CONSOLIDATED STATEMENT OF CASH FLOW

FOR THE YEAR ENDED 31ST DECEMBER, 2020
Notes 2020 2019
Description N N N N

CASH FLOWS FROM OPERATING

ACTIVITIES
Inflows
Statutory Revenue 1 1,216,755,647.97 1,447,847,201.73
VAT 1.1 471,564,524.20 381,151,111.16
Direct Taxes 2 779,500.00 386,000.00
Licences, Fines, Royalties, Fees etc. 3 9,181,959.83 47,434,814.41
Earnings & Sales 3 245,000.00 230,000.00
Rents of Government Properties - -
Investment Income - -
Interest & Repayment General - -
Re-imbursement - -
Funds from Special Accounts - -
Domestic Aid and Grants - -
External Aid & Grants - -
Gains from exchange transactions - -
Other Revenue(e.g. Plea Bargain) 7 200,235,294.12 218,823,529.41
Total Inflow from Operating Activities 1,898,761,926.12 2,095,872,656.71

Outflows
Personnel Emoluments 9 738,441,323.13 302,789,981.65
Overhead (Payment to Consultants, 11 42,982,267.66 78,396,578.92
Suppliers etc)
Contribution to Pension Schemes - -
Contribution to Other Employee Schemes 12 1,256,828,142.47 1,854,957,356.9
6
Consolidated Revenue Charges - -
Interest Payment - -
Total Outflow from Operating Activities 2,038,246,642.26 2,216,142,917.53

Net Cash Inflow/(Outflow) From (139,484,716.14) (120,270,260.82)

Operating Activities*
CASH FLOW FROM INVESTING
ACTIVITIES
Purchase/ Construction of Assets - -
(According to Sector s)
Purchase of Financial Market Instrument s - -
Investment in Private Companies - -
Investment in Development of Natural - -
Resources
Foreign Investments - -
Proceeds from Foreign Investments - -
Proceeds from Sales of Fixed Assets - -
Dividends Received - -
Net Cash Flow from Investing Activities - -

CASH FLOWS FROM FINANCING

ACTIVITIES
Proceeds from Domestic Loans & Other 24 (39,000,900.00) (1,715,700.00)
Borrowings (Receivable)
17
Proceeds from External Loans & Other 32 - -
Borrowings
Grants and Loans to Other - -
Governments/Agencies
Contribution/Subscriptions to International - -
Agencies/Bodies
Repayment of Loans (Deposit) 31 200,905,361.44 250,005.50
Net Cash Flow from Financing 161,904,461.44 (1,465,694.50)
Activities

Net Cash Flow from all Activities 22,419,745.30 (121,735,955.32)

Cash & Its Equivalent as at 1/1/ 2020 10,708,244.99 132,444,200.31

Cash & Its Equivalent as at 31/12/ 2020 22 33,127,990.29 10,708,244.99

................................................. ......................................................
Treasurer Chairman

NAME ……………………………………………… ………………………………………………

DATE ………………………………………………. ………………………………………………

The accompanying notes forms-an integral part of the General Purpose Financial Statement (GPFS)

18
 ISIALANGWA SOUTH LOCAL GOVERNMENT
OMOBA

STATEMENT OF ASSETS AND LIABILITIES

FOR THE YEAR ENDED 31ST DECEMBER, 2020
Ref. Notes 2020 2019

AMOUNT TOTAL AMOUNT TOTAL

N N N N
ASSETS
Current Assets
Cash and Cash Equivalents 3101 – 4 22 33,127,990.29 10,708,244,99
Inventories 3105 23 - -
Receivables 3106 – 7 24 39,000,900.00 1,715,700.00
Prepayments 3108 25 - -
Total Current Assets A 72,128,890.29 12,423,944.99

Non-Current Assets
Loans Granted 3110 26 - -
Investments 3109 27 - -
Fixed Assets - Property, Plant & 3201 28 - -
Equipment
Investment Property 3202 29 - -
Intangible Assets 3301 30 - -
Total Non-Current Assets B - -

Total Assets C = A + B 72,128,890.29 12,423,944.99

LIABILITIES
Current Liabilities
Deposits 4101 31 200,905,361.44 250.005.50
Loans & Debts (Short Term) 4102 32 - -
Unremitted Deductions 4103 33 - -
Accrued Expenses (Including 4104 34 - -
Pension & Gratuity)
Current Portion of Borrowings 4105 35 - -
Total Current Liabilities D 200,905,361.44 250,005.50

Non-Current Liabilities
Public Funds 4601 36 - -
Borrowings 4602 37 - -
Total Non-Current Liabilities E - -

Total Liabilities: F = D + E 200,905,361.44 250,005.50

Net Assets: G = C - F (128,776,471.15) 12,173,939.49

NET ASSETS/EQUITY
Reserves 38
Accumulated Surpluses / (Deficits) 39 (128,776,471.1 12,173,939.49
5)

Total Net Assets/Equity: (128,776,471.15) 12,173,939.49

19
 ................................................. ......................................................
Treasurer Chairman

NAME ……………………………………………… ………………………………………………

DATE ………………………………………………. ………………………………………………

The accompanying notes forms-an integral part of the General Purpose Financial Statement (GPFS)

20
 ISIALANGWA SOUTH LOCAL GOVERNMENT
OMOBA

STATEMENT OF CONSOLIDATED REVENUE FUND

(INCOME & EXPENDITURE) FOR THE YEAR ENDED 31ST DECEMBER, 2020

Previous Year Notes Actual 2020 Final Budget Initial/Original Supplem Variance on
Actual 2019 2020 Budget 2020 entary Final Budget
Budget
2020
N N N N N N
A B(C+D) C D E(B-A)
132,444,200.31 Opening Balance 10.708,244.99 - - - (10,708,244.99)

REVENUE
1,828,998,312.89 Government Share of 1 1,688,320,172.17 1,864,736,000.00 1,864,736,000.00 - 176,415,827.83
FAAC (Statutory
Revenue)
386,000.00 Tax Revenue 2 779,500.00 4,500,000.00 4,500,000.00 - 3,720,500.00
47,664,814.41 Non-Tax Revenue 3 9,426,959.83 8,000,000.00 8,000,000.00 - (1,426,959.83)
- Investment Income 4 - - - - -
- Interest Earned 5 - - - - -
- Aid & Grants 6 - - - - -
218,823,529.41 Other Capital Receipts 7 200,235,294.12 201,000,000.00 201,000,000.00 - 764,705.88
- Debt Forgiveness 8 - - - - -
2,228,316,857.02 Total Revenue 1,909,470,171.11 2,078,236,000.00 2,078,236,000.00 -- 168,765,828.89

EXPENDITURE
302,788,981.65 Salaries & Wages 9 738,441,232.13 1,212,080,662.00 1,212,080,662.00 - 473,639,429.87
- Allowances & Social 9 - - - - -
Contribution
- Social Benefits 10 - - - - -
78,396,578.92 Overhead Cost 11 42,982,267.66 314,333,338.00 314,333,338.00 - 271,351,070.34
1,834,957,356.96 Transfer to other Govt. 12 1,256,823,142.47 1,260,000,000.00 1,260,000,000.00 - 3,176,857.53
Entities
Transfer to capital 12.1
Development Fund
- Subsidies 13 - - - - -
- Depreciation Charges 14 - - - - -
- Impairment Charges 15 - - - - -
- Amortization Charges 16 - - - - -
- Bad Debts Charges 17 - - - - -
2,216,142,917.53 Total Expenditure 2,038,246,642.26 2,786,414,000.00 2,786,414,000.00 -- 748,167,357.74

12,173,939.49 Surplus / (Deficit) (128,776,471.15) (708,178,000.00) (708,178,000.00) - (579,401,528.85)

from Operating
Activities for the
Period

- Public Debt Charges 18 - - - - -

- Gain/Loss on Disposal 19 - - - - -
of Asset
- Gain/Loss on 20 - - - - -
Exchange Transaction
-- Total Non-Operating -- -- -- - --
Revenue / (Expenses)

12,173,939.49 Surplus/(Deficit) from (128,776,471.15) (708,178,000.00) (708,178,000.00) - (579,401,528.85)

Ordinary Activities e
= (c+d)

- Minority Interest Share 21 - - - - -

of Surplus / (Deficit) (f)

12,173,939.49 Net Surplus/(Deficit) (128,776,471.15) (708,178,000.00) (708,178,000.00) - (579,401,528.85)

for the Period g = (e-f)
21
 ................................................. ......................................................
Treasurer Chairman

NAME ……………………………………………… ………………………………………………

DATE ………………………………………………. ………………………………………………

The accompanying notes forms-an integral part of the General Purpose Financial Statement (GPFS)

22
 ISIALANGWA SOUTH LOCAL GOVERNMENT
OMOBA

STATEMENT 5
STATEMENT OF COMPARISON
OF BUDGET AND ACTUAL AMOUNTS FOR
THE YEAR ENDED DECEMBER 31, 2020

S/N Statement Particulars

1. 5.1 COMPARATIVE STATEMENT OF REVENUE

2. 5.2 COMPARATIVE STATEMENT OF

EXPENDITURE

3. 5.3 COMPARATIVE STATEMENT OF ASSETS

4. 5.4 COMPARATIVE STATEMENT OF

LIABILITIES/EQUITIES

23
 ISIALANGWA SOUTH LOCAL GOVERNMENT
OMOBA
STATEMENT 5.1

STATEMENT OF COMPARISON OF
BUDGET AND ACTUAL AMOUNTS FOR
THE YEAR ENDED DECEMBER 31, 2020
COMPARATIVE STATEMENT OF REVENUE
FOR THE YEAR ENDED DECEMBER 31, 2020
Econ Code NOTE Total Approved Actual Variance
Details of Revenue Estimate Revenue
₦ ₦ ₦
1 REVENUE

11 GOVERNMENT SHARE OF FAAC

(STATUTORY REVENUE)

1101 GOVERNMENT SHARE OF FAAC

(STATUTORY REVENUE)
01 Statutory Allocation 1,864,736,000.00 1,216,755,647.97 697,980,352.03

02 Value added Tax (VAT) 471,564,524.20 (471,564,524.20)

03 Excess Crude
TOTAL GOVERNMENT SHARE OF
FAAC (STATUTORY REVENUE)

TOTAL GOVERNMENT SHARE OF

FAAC (1101)

TOTAL GOVERNMENT SHARE OF

1,864,736,000.00 1,688,320,172.17 176,415,827.83
FAAC (11)

12 INDEPENDENT REVENUE

1201 TAX REVENUE

120101 PERSONAL TAXES

01 Community Development/Poll Tax 2,000,000.00 -- 2,000,000.00

06 Development tax/levy/cap. Rate 2,500,000.00 779,500.00 1,720,500.00

09 Other service taxes/property rate

Sub-Total TAX REVENUE (120101) 4,500,000.00 779,500.00 3,720,500.00

Sub-Total TAX REVENUE (1201) 4,500,000.00 779,500.00 3,720,500.00

1202 NON-TAX REVENUE

120201 LICENCES
12 Bicycles licence& hire permits/ others 800,000.00 663,380.00 136,619.72

24
 (Tricycle part dealer)
20 Hawker’s permits 200,000.00 200,000.00
24 Abattoir/slaughter licences 100,000.00 100,000.00
26 Hiring services 100,000.00 100,000.00
31 Liquor licences 75,000.00 75,000.00
37 Trade permit licences 300,000.00 300,000.00
40 Lottery permit 100,000.00 100,000.00
Sub-Total Licences (120201) 1,675,000.00 663,380.28 1,011,619.72

120204 FEES
17 Contractor registration fees 200,000.00 -- 200,000.00
18 Marriage/divorce fees
26 Court summons/oath fees
27 Tender fees 200,000.00 -- 200,000.00
36 Bill board advertisement fees 100,000.00 -- 100,000.00
42 Association fees
43 Birth & death registration fees
48 Development levies 100,000.00 100,000.00
49 Business/trade operating fees 1,500,000.00 8,086,579.55 (6,586,579.55)
50 Inspection fees
54 Parking fees
59 Right of occupancy fees 200,000.00 -- 200,000.00
60 Building plan approval fees
62 Publication fees 25,000.00 -- 25,000.00
Sub-Total Fees l (120204) 2,325,000.00 8,086,579.55 5,761,579.55)

120207 EARNINGS
06 Earnings from toll gates/Mkt Toll 425,000.00 245,000.00 180,000.00
11 Earnings from ict service/others 400,000.00 -- 400,000.00
20 Earnings from guest houses 275,000.00 275,000.00
Sub-Total Earnings (120207) 1,100,000.00 245,000.00 855,000.00

120208 RENT ON GOVERNMENT BUILDING -

GENERAL
01 Rent on government quarters 1,175,000.00 -- 1,175,000.00
SUB- TOTAL RENT-GENERAL(120208) 1,175,000.00 -- 1,175,000.00

120211 INVESTMENT INCOME

03 Other investment income 1,725,000.00 432,000.00 1,293,000.00
SUB- TOTAL investment income (120211) 1,725,000.00 432,000.00 1,293,000.00

Non- Tax Revenue (1202) 8,000,000.00 9,426,959.83 (1,426,959.83)

Total INDEPENDENT REVENUE (12) 1,877,236,000.00 1,698,526,632.00 178,709,368.00

1401 Transfer from consolidated - 10,708,244.99 (10,708,244.99)

revenue fund

1501 TRANSFERS
01 Transfer From Govt. 201,000,000.00 764,705.88
Establishments 200,235,294.12

TOTAL REVENUE 2,078,236,000.00 1,909.470.171.11 168,765,828.89

25
 ISIALANGWA SOUTH LOCAL GOVERNMENT
OMOBA

STATEMENT 5.2

STATEMENT OF COMPARISON OF
BUDGET AND ACTUAL AMOUNTS FOR
THE YEAR ENDED DECEMBER 31, 2020

COMPARATIVE STATEMENT OF EXPENDITURE

FOR THE YEAR ENDED DECEMBER 31, 2020
Econ Code NOTE Total Actual Variance
Details of Expenditure Approved Expenditure
Estimates
₦ ₦ ₦
2 EXPENDITURES

21 PERSONNEL COST

2101 SALARY

210101 SALARIES AND WAGES

01 Salary 1,212,080,662.00 738,441,232.13 473,639,429.87
02 Over Time Payments
03 Consolidated Revenue Fund
Charge – Sal.
Sub-Total Salaries and
Wages (210101)

Sub-Total Salary (2101) 1,212,080,662.00 738,441,232.13 473,639,429.87

TOTAL PERSONNEL COST(21)

22 OTHER RECURRENT COSTS

2202 OVERHEAD COST

220201 TRAVEL & TRANSPORT

01 Local travel & transport: 4,000,000.00 1,467,500.00 2,532,500.00
training
02 Local travel & transport Others 4,000,000.00 1,467,500.00 2,532,500.00
03 Non Accident Bonus 465,459.00 -- 465,459.00
Sub-Total Travel & 8,465,459.00 2,935,000.00 5,530,459.00
Transport (220201)

220202 UTILITIES
01 Electricity Charges 500,000.00 -- 500,000.00
02 Telephone 500,000.00 -- 500,000.00
03 Internet Accessories 300,000.00 -- 300,000.00

26
 Sub-Total Utilities (220202) 1,300,000.00 1,300,000.00
220203 Materials & Supplies
01 Office Stationeries /Computer 2,000,000.00 2,124,900.00 (124,900.00)
consumables
05 Printing & Non Security 1,000,000.00 1,000,000.00
Documents
06 Printing of Non Security 500,000.00 500,000.00
Documents
07 Drug/Laboratory Materials 500,000.00 500,000.00
08 Field & Camping Materials
09 Uniform & Other Clothing
10 Teaching Aids/ Instructional 850,000.00 850,000.00
Materials
Sub-Total Materials & Supplies 4,850,000.00 2,124,900.00 2,725,100.00
(220203)

220204 Maintenance Services

01 Maintenance of motor vehicle / 4,000,000.00 3,811,500.00 188,500.00
transport equipment
02 Maintenance of Office 500,000.00 500,000.00
Furniture
03 Maintenance of 500,000.00 500,000.00
Building/Residential Quarters
04 Maintenance of Office /IT 300,000.00 300,000.00
Equipment
05 Maintenance of Plant/Gen st 200,000.00 200,000.00
06 Other Maintenance Services 500,000.00 2,521,300.00 (2,021,300.00)
10 Maintenance of Street Lights
12 Maintenance of Market/Public 425,856.00 425,856.00
Places
13 Minor Road Maintenance
Sub-Total Maintenance
Services (220204) 6,425,856.00 6,332,800.00 93,056.00

220205 Training
01 Local Training 2,300,000.00 2903550.00 (603,500.00)
Sub-Total Training (220205) 2,300,000.00 2903550.00 (603,500.00)

220206 Other Service

01 Security Services 3,000,000.00 -- 3,000,000.00
03 Residential Rent 5,500,000.00 -- 5,500,000.00
04 Security Vote (Including 20,000,000.00 -- 20,000,000.00
Operations)
05 Clearing & Fumigation 7,643,292.00 -- 7,643,292.00
06 National Security & Civil 2,500,000.00 -- 2,500,000.00
Defence Services Corps
07 Servicicon Activities 8,000,000.00 -- 8,000,000.00
Sub-Total Other Services 47,693,292.00 -- 47,693,292.00
(220206)

27
220207 Consulting & Professional
Services
02 Information Technology
03 Finance (Audit Fees, etc) 3,000,000.00 3,000,000.00
04 Engineering Services
05 Architectural Services
06 Surveying Services
07 Agricultural Consulting
09 Special Committee 700,000.00 413,500.00 286,500.00
10 Statistical Survey & Data
Collection
Sub-Total Consulting & 3,700,000.00 413,500.00 3,286,500.00
Professional Services (220207)

220208 FUEL & LUBRICANTS

01 Motor Vehicle Fuel Cost 500,000.00 500,000.00
02 Other Transport Equipment 500,000.00 50,000.00 450,000.00
Fuel Cost
03 Plant/Gen Set Fuel Cost 410,238.00 410,238.00
Sub-Total Fuel & Lubricants 1,410,238.00 50,000.00 1,360,238.00
General (220208)

220209 FINANCIAL CHARGES

01 Bank Charges (Other than 2,500,000.00 2,500,000.00
Interest)
04 Others Consolidated fund 1,412,462.00 1,412,462.00
Bank Charges)
Sub-Total Financial Charges 3,912,462.00 3,912,462.00
(220209)

220210 Miscellaneous expenses

01 Refreshment & meals
02 Honorarium & Sitting 24,000,000.00 7,568,400.00 16,431,600.00
Allowance
03 Publicity & Adverts
04 Medical Expenses Local 5,800,000.00 50,000.00 5,750,000.00
06 Postage & Courier Services 1,513,478.00 -- 1,513,478.00
07 Welfare Packages 1,500,000.00 110,000.00 1,390,000.00
10 Direct Teaching/Laboratory
Cost
23 Loan scheme to Transport 30,000,000.00 18,494,117.66 11,505,852.34
coordinators/Recurrent debt
27 Judgments’ Debts
28 Legislative Council 12,000,000.00 -- 12,000,000.00
Maintenance
29 Traditional Rulers
31 NYSC 5,000,000.00 -- 5,000,000.00

28
 32 Postal Agents/legal services 15,006,000.00 2,000,000.00 13,000,000.00
34 Disposal of Waste/Unidentified 3,000,000.00 -- 3,000,000.00
Corpse
Sub-Total Miscellaneous 97,813,478.00 28,222,517.66 69,590,960.34
expenses(220210)
Total OVERHEAD COST 314,333,338.00 42,982,267.66 271,351,070.34
(2202)
2204 GRANTS &
CONTRIBUTIONS
220401 Grants & Contributions

2207 TRANSFERS
220701 Transfer Payments to Govt. 1,260,000,000.00 1,256,823,142.47 3,176,857.53
Establishments

TOTAL OTHER RECURRENT

EXP COSTS (22)

CAPITAL EXPENDITURE

TOTAL EXPENDITURE 2,786,414,000.00 2,038,246,642.26 748,167,357.74

29
 ISIALANGWA SOUTH LOCAL GOVERNMENT
OMOBA

STATEMENT 5.3

STATEMENT OF COMPARISON OF
BUDGET AND ACTUAL AMOUNTS FOR
THE YEAR ENDED DECEMBER 31, 2020

COMPARATIVE STATEMENT OF ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2020

Econ Code NOTE Total Actual Assets Variance

Details of Assets Approved
Estimates
₦ ₦ ₦
3 ASSETS

31 CURRENT ASSETS

3101 CASH/BANK BALANCES HELD 22 33,127,990.29

BY TREASURER

310101 CONSOLIDATED REVENUE FUND

01 Cash Balance Consolid. Revenue 33,127,990.29
Fund (310101)

3106 RECEIVABLES

310601 PERSONAL ADVANCES

01 Personal Advances 24 39,000,900.00

310602 ADMINISTRATIVE ADVANCES

01 Administrative Advances
Sub Total Administrative Advances
(310602)

TOTAL CURRENT ASSETS (31)

32 NON-CURRENT ASSETS

TOTAL ASSETS 72,128,890.29

30
 ISIALANGWA SOUTH LOCAL GOVERNMENT
OMOBA

STATEMENT 5.4

STATEMENT OF COMPARISON OF
BUDGET AND ACTUAL AMOUNTS FOR
THE YEAR ENDED DECEMBER 31, 2020

COMPARATIVE STATEMENT OF LIABILITIES/EQUITIES

FOR THE YEAR ENDED DECEMBER 31, 2020
Econ Code Details of Liability / Equity NOTE Total Actual Variance
Approved Liability/
Estimates Equity
₦ ₦ ₦
4 LIABILITIES / EQUITY

41 CURRENTLIABILITIES

4101 DEPOSITS

410101 Contract Retention Fees

07 Other Deposits 31 200,905,361.44
Sub-Total Contract Retention
Fees (410101)

Sub-Total Deposits (4101)

4302 RESERVES

430201 Accumulated Surplus /

(Deficit)
01 Accumulated Surplus / (Deficit) 39 (128,776,471.15)

Sub-Total Reserves (4302)

TOTAL CAPITAL & RESERVES

(43)

TOTAL LIABILITIES/EQUITIES 72,128,890.29

31
 ISIALANGWA SOUTH LOCAL GOVERNMENT
OMOBA

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED DECEMBER 31, 2020
NOTE DETAILS REF. 2020 2019
NOTE
Net Share of Statutory Allocation from FAAC ₦ ₦
This represents allocation made to the three
tiers of Government from the Federation
Account in line with the provisions of the
1a Share of FAAC Statutory Revenue 1a 1,079,132,064.65

Share of Forex 1b 21,197,298.53 32,922,438.05

Share of Excess Bank Charges 1c 12,586,784.75 3,320,131.26
Share of order of OAGF 1d 282,227.08 2,078,909.02
Share of Exchange Gain 1e 35,741,606.42 2,576,489.90
Share of Solid Mineral 1f 1,847,549.18 1,808,699.08
Share of Excess Oil 1g 24,842,962.76 11,433,999.60
Share of Non oil Revenue 1h 32,904,724.34
Share of Intervention 1i 8,220,430.26
Total (Gross) FAAC Allocation to ISIALA S. 1,216,755,647.97 1,447,847,201.73
LG

1a 1b 1c 1d 1e 1f 1g 1h 1i
MONTH Statutory Forex Excess Bank Order of Exchange Solid Excess Oil Non oil Intervention
Revenue Charges OAGF Gain Mineral Revenue
₦ ₦ ₦ ₦ ₦ ₦ ₦ ₦ ₦

Jan 110,386,019.15 157,489.77 220,340.69

Feb 97,484,509.53 3,159,688.47 158,998.11
Mar 98,780,673.84 13,508,415.53
April 77,034,643.42 282,227.08 5,728,034.53 1,847,549.18 24,842,962.76
May 86,900,095.91 242,268.68 5,985,132.87
June 91,283,810.17 11,947,752.97 9,333,227.91
July 115,525,916.26
Aug 107,655,627.26
Sept. 66,461,143.71 14,968,144.93 10,752,977.68 8,220,430.26
Oct 68,758,531.44 239,273.33 22,151,746.66
Nov 79,611,768.49 1,635,590.50
Dec 79,249,325.47 1,433,874.63 807,456.78
TOTAL 1,079,132,064.65 21,197,298.53 12,586,784.75 282,227.08 35,741,606.42 1,847,549.18 24,842,962.76 32,904,724.34 8,220,430.26

32
 DETAILS

Value Added Tax

2 2020 2019
₦ ₦ ₦
This represent share of VAT to the
three tiers of government in line with
the provisions of the VAT Act
Share of value Added Tax (VAT)

Total (Gross) FAAC Allocation to

ISIALA S. LG 471,564,524.20 381,151,111.10

2a 2020 2019
MONTH NET RECEIPT DEDUCTION TOTAL TOTAL
₦ ₦ ₦ ₦

January 110,386,019.15 110,386,019.15 33,694,686.47

February 97,484,509.53 97,484,509.53 30,670,638.01

March 98,780,673.84 98,780,673.84 29,940,996.70

April 77,034,643.42 77,034,643.42 31,155,702.68

May 86,900,095.91 86,900,095.91 33,997,771.01

June 91,283,810.17 91,283,810.17 34,802,967.99

July 115,525,916.26 115,525,916.26 30,090,852.95

August 107,655,627.26 107,655,627.26 28,252,987.67

Sept. 66,461,143.71 66,461,143.71 29,961,060.24

October 68,758,531.44 68,758,531.44 33,843,793.51

November 79,611,768.49 79,611,768.49 29,083,249.51

December 79,249,325.47 79,249,325.47 35,656,404.42

1,079,132,064.65 1,079,132,064.65 381,151,111.10

TOTAL

33
NOTE PARTICULARS AMOUNT TOTAL
₦ ₦

2 Tax Revenue
Other service taxes 779,500.00
Total Tax Revenue 779,500.00

3 Non - Tax Revenue

LICENCES
Registration of voluntary organizations

FEES
Operation fees 8,086,579.55
Identification fees 432,000.00
Stallage fees 40,200.00
Market tolls 30,000.00
Motor park fees 200,000.00
Liquor licence fees 15,000.00
Miscellaneous 623,180.28
Sub-Total fees 9,426,959.83

9 SALARY
SALARIES AND WAGES
Salary 738,441,232.13
Sub-Total Salaries and Wages

11 OVERHEAD COSTS

11.1 OVERHEAD COSTS BY FUNCTION

Travel & Transport
Utilities
Materials & Supplies
Maintenance Services
Training
Other Service
Consulting and Professional Services
Miscellaneous Expenses
TOTAL
34
12 TRANSFER TO OTHER GOVT. ENTITIES-
DEDUCTIONS BY JOINT ACCOUNTS &
ALLOCATION COMMITTEE (JAAC)
Statutory Deductions 918,788,572.58

Administrative 203,034,569.89

Other Sundry Deductions 135,000,000.00

TOTAL 1,256,823,142.47

Note 22 CASH AND BANK BALANCES

S/N DETAILS A/C NO AMOUNT TOTAL
N N
A CASH- IN- HAND 610,177.38 610,177.38
B CASH AT BANKS:
i Access Bank
ii Polaris 2,811.78
iii UBA 15,453,092.86
iv First Bank 3,087.81
v First Bank 5,358.52 15,464,350.97

C BALANCE AT JAAC 17,053,461.94

TOTAL CASH AT BANKS

TOTAL 33,127,990.29

NOTE 24 RECEIVABLES
OUTSTANDING ADVANCES AS AT DECEMBER 31, 2020
S/N FOILO NAME AMOUNT
NO N
1. 1 Ohia Ngozi P. 245,000.00
2. 5 Omogba Samuel 245,000.00
3. 12 Lady Kate Dike (JP) 5,000.00
4. 18 Arch. Charles Ihuoma (HOD Works) 33,773,000.00
5. 24 Agoha Uchenna S. (HOD Agric) 265,000.00
6. 30 Chief Monday Ugorji (HOS) 880,000.00
7. 36 Emesue Festus U. (Treasurer) 670,000.00
8. 42 Jeremiah Ibeabughchi Internal Auditor 149,000.00
9. 55 Nworgu Dorathy 115,000.00
10. 62 Samuel Nwogu O. 45,000.00
11 69 UBA Okocha 39,900.00
12 82 Anyanwu Amarachi 13,000.00
13 90 Amamba Sopuruchi 5,000.00
35
 14 98 Dike B. A. 5,000.00
15 103 Kalu N. Ukpai 40,000.00
16 104 Nnabugwu Celestine 10,000.00
17 107 Oriaku Onyekachi 10,000.00
18 113 Onyedikachi Nwachukwu 25,000.00
19 123 Obiuto Bright 15,000.00
20 129 Ogechi Ehiogu 5,000.00
21 136 Onwukwe G.E. 5,000.00
22 153 Akwada I. Godwin (110,000.00)
23 159 Kalu Ikpo Ochokwo 1,249,000.00
24 160 Ozems Charles 20,000.00
25 168 Ikonne Julius 45,000.00
26. 169 Ngobi Ndukaku 15,000.00
27. 170 Ihemadu Gladys 20,000.00
28. 140 Hyginus Onyeizu 20,000.00
29. Book II 7 Paul Enyioma Okparaku 600,000.00
30. 13 Obilor Kate Thelma C. (180,000.00)
31. 19 Pastor Augustine Agomuo 10,000.00
32. 24 Justice Ejikoma 160,000.00
33. 31 Hon Dennis Rowland C. 500,000.00
34. 32 Akudo Ibe 50,000.00
35 34 Stanley Onukwubiri 37,000.00
TOTAL 39,000,900.00

NOTE 31 DEPOSITS

OUTSTANDING DEPOSITSAS AT DECEMBER 31, 2020

S/N NAME FOLIO AMOUNT
N
1. NULGE 86,093,636.89
2. Staff Welfare Association & Other Dept 6,207,557.33
Welfare
3. B.I.R (PAYE) 45,082,439.79
4. LOGLA --
5 M.H.W.U. HEALTH 62,953,480.65
6. N.H.F.S. (Federal Housing Scheme) 567,246.78
7. Livestock Allowances --
8. Unclaimed Salaries --

TOTAL 200,905,361.44

36